Comment history for BarbaraAnnJackson

BarbaraAnnJackson  (anonymous) says...

re: Foreclosure Fraud, Lenders' false IRS 1099's

Congress needs to investigate and property owners need to be WARNED about mortgage lenders’ filing falsified IRS tax form 1099-A's or 1099-C's –especially for FORECLOSURES. To illustrate, here is a portion of my statement concerning Wells Fargo's false 1099-A, as well as a link to entire actual statement posted at:
http://www.lawgrace.org/2008/08/08/my...
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This Financial Office mistakenly thought a complaint was filed concerning my property; and on July 30, 2008, Ms. Kathy Drzewiecki responded on Wells Fargo's behalf. . . As your records show, GE Capital Mortgage Services, Inc., became defunct in year 2002 when it merged into GE Mortgage Services, LLC, its "successor." Therefore, it is impossible for foreclosure auction to have LAWFULLY been carried out in year 2005 on behalf of the non-existent GE Capital Mortgage Services, Inc. Also, contrary to what Ms. Drzwiecki wrote, it is NOT POSSIBLE in year 2005 for Wells Fargo to continue being the "mortgage servicer" for non- existent GE Capital Mortgage Services. Furthermore, if my property was (impossibly) ACQUIRED by GE Capital on May 19, 2005, there is NO LAWFUL REASON for the IRS form 1099-A to exhibit Wells Fargo's name.

Another thing Ms. Drzewiecki's letter failed to state is that I initially acquired my residence property in 1993 through AmSouth Bank. For home improvement in 1999, I refinanced it with GE Capital. I had equity in the property, and I never had a subprime loan. (Marriage failure caused me financial ruin; and crooked deals in Family Court sealed my fate.)

On the other hand, facts overwhelmingly demonstrate that, using defunct GE Capital's identity, debt collector attorney Herschel C. Adcock, Jr., fraudulently seized and acquired more than $80,000 when he flipped my property. Also, contrary to the form 1099-A, the Fair Market Value was not $12,000 -as manifest from the year 2005 sale price for which that property was sold in that same tax year purportedly to a third party.

A lot of foreclosed former property owners will one day discover there is a 1099-A or a 1099-C for which the IRS wants answers. If that 1099 is replete with false information, there could be severe tax effects and a lot of needless untangling to be burdened with.

Across the country, foreclosures have been halted because "real party interest" was absent from those foreclosure proceedings. Yet (in Louisiana), it would not be farfetched for foreclosures to become filed in the name of 'Mary had a little lamb', and judges allow peoples' homes to become seized.

from Barbara Ann Jackson

BarbaraAnnJackson  (anonymous) says...

re: Mortgage Mess, FORECLOSURE FRAUD, DEBT COLLECTION ABUSE, COLLUSION

Representation about $$$ billion dollar losses due to people defaulting on mortgages should be weighed against the fact that Freddie Mac and Wells Fargo needlessly pay DEBT COLLECTION firms outrageous legal fees for corporate lawyers to outmaneuver -and even persecute people who file court proceedings in opposition to fraudulent foreclosures.

Most critical to the Foreclosure Crisis is FORECLOSURE FRAUD. In almost all instances of foreclosure fraud, MORTGAGE LENDERS become enabled to ILLEGALLY FLIP properties. In Louisiana, 2 particular mortgage companies which benefit from fraudulent foreclosures are Wells Fargo and FREDDIE MAC! It is HIGHLY COMMON for a DEBT COLLECTOR attorney to file a foreclosure naming a DEFUNCT mortgage company;(or naming a mortgage company which NO LONGER holds the security interest (the promissory note); or file a foreclosure and AFFIX a ‘ransom’ amount (the collector’s fee) far exceeding the promissory note “Acceleration Clause.”

Despite a property owner’s entitlement to Challenge CONTRARY-TO-LAW loss of his / her home, most property owners LACK legal knowledge; the Court System is REFRACTORY; and there are limited attorneys with Consumer Law acumen. Also, when borrowers sue for “Unfair Debt Collection Practices,” damages, the collector gets to make more $$ through prolonged litigation, as co-conspirators enjoy the foreclosure fraud pie.

Judicial Corruption is the underlying factor of New Orleans Apartheid conditions which became exposed due to Hurricane Katrina floods. CRONYISM and JUDICIAL CORRUPTION are the salient reasons why unlawful foreclosures are sanctioned in state such as Louisiana. Likewise, the court systems as well as the Louisiana division of the U.S. Justice Department FACILITATES real estate and mortgage FRAUD here!

Further, Securities Investors need to become more astute about how misdeeds of mortgage servicers like WELLS FARGO hurts borrowers as well as siphons incalculable amounts of money from what Investors should reap. (For more facts see "Limiting Abuse and Opportunism By Mortgage Servicers,"on the msfraud.org website.)

**See "Mortgage Mess" newsblaze.com/story/20071203130614tsop.nb/newsblaze/TOPSTORY/Top-Stories.

**Also see Irrefutable PROOF of this commentary -with court documents, pleadings, transcript excerpts, AND MORE posted on my www.lawgrace.org website.

**And see: Comment about Foreclosure on Judge Reginald Badeaux’s Home
www.lawgrace.org/2007/12/08/my-decemb...

-Barbara Ann Jackson (Katrina displaced from New Orleans)
Law & Grace, Inc.,
www.lawgrace.org